New York — 

Never doubt the power of the $30 trillion US Treasury market. It was robust enough to push back on the Treasury Department’s recent intervention while captivating Wall Street. Now investors are wondering whether the bond market’s unease is strong enough to disturb a booming stock market.

Bond yields have climbed this year, driven by concerns about government deficits and an increase in supply of corporate bonds to fund the AI buildout. Investors are demanding more compensation to continue funding government spending and companies’ plans for AI.

A rise in yields pushes up interest rates…